Thursday, May 28, 2020
*The Deficit Myth* and Modern Monetary Theory — Tyler Cowen
An Austrian economist reviews Stephanie Kelton's new book.
Marginal Revolution
*The Deficit Myth* and Modern Monetary Theory
Tyler Cowen | Holbert C. Harris Chair of Economics at George Mason University and serves as chairman and general director of the Mercatus Center
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4 comments:
"The Deficit Myth"... I dont get it...
You're not Austrian.
"I don’t care what the author says or how canonical she is as a source, a federal jobs guarantee is not part of MMT." -Tyler Cowen
Oh really? According to who? This guy?
This is a classic example of a dialectic process...
https://en.wikipedia.org/wiki/Dialogic
"In a dialectic process describing the interaction and resolution between multiple paradigms or ideologies, one putative solution establishes primacy over the others. The goal of a dialectic process is to merge point and counterpoint (thesis and antithesis) into a compromise or other state of agreement via conflict and tension (synthesis). "Synthesis that evolves from the opposition between thesis and antithesis."[2] Examples of dialectic process can be found in Plato's Republic."
Its textbook Platonism 101... or "the broad gate"... its non discriminatory ie the false is never discarded...
MMT is not the Thesis that is currently having primacy... Monetarism has established primacy...
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